Stake CORE

1. What Is Core (CORE)?

Core (CORE) is built as an L1 blockchain that is compatible with Ethereum Virtual Machine (EVM), therefore it can run Ethereum smart contracts and decentralized applications (dApps). The Core network is powered by the “Satoshi Plus” consensus mechanism, which secures the network through a combination of delegated Bitcoin's mining hash and delegated Proof-of-Stake (DPoS). The protocol is backed by its native token, CORE. The developers of the project strive to create an infrastructure that operates at the core of web 3.0, offering revolutionary ideas to solve the blockchain trilemma. The mainnet was launched in January 2023. The blockchain is governed by a decentralized autonomous organization (DAO), where the Core DAO is responsible for the development of the Satoshi Plus ecosystem.

2. Who Are the Founders of Core?

According to the official Core accounts, CoreDAO is a global team of contributors who share a vision and passion for a better web 3.0, idealists who contribute to the growth of the Satoshi Plus ecosystem through blockchain technology. The project has many supporters: about 1.6 million Twitter followers and over 74,000 Telegram followers, however, the identities of the creators, contributors and developers remain undisclosed to the public.

3. What Makes Core (CORE) Unique?

Satoshi Plus is the consensus mechanism to validate transactions and secure the Core network; the method is based on Bitcoin’s Proof-of-Work (PoW) and Ethereum’s Delegated Proof-of-Stake (DPoS) pairing. The combination of models allows the network to achieve both decentralization and scalability by dealing with the challenges of the blockchain trilemma. Core provides the composability of an EVM chain, which ensures enabling conditions for managing smart contracts and dApps. By creating dApps on the Core blockchain and bringing value to the ecosystem, developers are rewarded with S-Prize tokens (so-called Satoshi Prize). The protocol opts for decentralization by operating through a decentralized autonomous organization (DAO) that controls transaction fees and governance parameters, proposes upgrades, makes development proposals and votes on proposals.

4. How Many Core (CORE) Coins Are There in Circulation?

CORE is the utility and governance token of the Core network, which has a maximum supply of 2.1 billion coins. It works on the scarcity principle of value, following Bitcoin's hard cap. The developers will implement a burn model similar to Ethereum's "Ultra Sound Money", where a certain percentage of rewards and fees will be determined by the Core DAO and burnt. The total supply of CORE is distributed into six categories: 39.995% to node mining; 25.029% to Core users; 15% to contributors; 10% to reserves; 0.476% to relayer rewards; 9.5% to the treasury.

5. How Is the Core Network Secured?

The Core blockchain uses the Satoshi Plus consensus mechanism: a combination of Bitcoin's Proof-of-Work (PoW) framework and a modified Proof-of-Stake (PoS) mechanism aka the delegated Proof-of-Stake (DPoS) model. In addition, the network is audited by CertiK, a firm specializing in web 3.0 security, blockchain protocol monitoring and crypto audits.

6. Where Can You Buy Core (CORE)?

Core (CORE) is listed on numerous cryptocurrency exchanges like Huobi, OKX, Gate.io, Bybit, Poloniex, and several others, where users can purchase CORE tokens and trade with USDT pairs. Want to keep track of CORE prices live? Download the CMC mobile app.

7. Related Pages:

Find out more about Ethereum — the leading layer 1 blockchain, which uses a proof-of-stake consensus mechanism. Read more about Avalanche (AVAX), Solana (SOL) and BNB Smart Chain (BNB), some other popular layer 1 chains. Refresh your knowledge of crypto terms with the CMC glossary. What are DAOs and how do they contribute to the crypto space? Find out with CMC Alexandria. Check out 5 social DAOs in the web 3.0 landscape.

8. What is Blockchain?

Blockchain is a decentralized and distributed ledger technology that securely records transactions across multiple computers in a verifiable and permanent way. It forms the underlying technology for cryptocurrencies like Bitcoin and enables transparency, security, and immutability.

9. What is Cryptocurrency?

Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology, and facilitates secure and transparent peer-to-peer transactions.

10. What is Bitcoin?

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network and is used for secure, transparent, and censorship-resistant transactions.

11. What is the difference between Bitcoin and Altcoins?

Bitcoin is the original and most widely recognized cryptocurrency, while altcoins refer to any other cryptocurrencies besides Bitcoin. Examples of altcoins include Ethereum, Ripple (XRP), Litecoin (LTC), and many others.

12. What is Staking?

Staking involves participants locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. It is commonly associated with proof-of-stake (PoS) and delegated proof-of-stake (DPoS) consensus mechanisms, where participants receive rewards for helping secure the network.

13. How Can I Stake Cryptocurrency?

To stake cryptocurrency, you typically need to choose a platform or network that supports staking. Transfer your tokens to a compatible wallet, follow the staking instructions provided by the platform, and lock up the desired amount of cryptocurrency. Once staked, you may start earning rewards.

14. What Are Staking Rewards and How Are They Calculated?

Staking rewards are incentives provided to participants who lock up their cryptocurrency to support the network. The amount of rewards varies and is influenced by factors such as the network's inflation rate, the total amount staked, and the specific rules of the staking protocol.

15. Can I Unstake My Cryptocurrency at Any Time?

The ability to unstake and withdraw your cryptocurrency depends on the specific staking protocol and network. Some platforms may have lock-up periods or unbonding periods during which your staked tokens are inaccessible. Always check the terms and conditions of the staking service.

16. What are the Risks of Staking?

Staking comes with risks, including the potential loss of staked funds if a participant behaves maliciously or fails to fulfill their responsibilities. Market volatility can also impact the value of staked tokens. It's crucial to thoroughly research the staking protocol and understand the associated risks.

17. Can I Lose Money by Staking?

While staking is designed to be a rewarding activity, there is a risk of losing money, especially if the value of the staked cryptocurrency decreases or if the staking protocol encounters security issues. It's important to consider both the potential rewards and risks before participating in staking.